Market Stats Update for 3/28 – 4/4/2020

Here is where you can find all the latest info on the Summit County, CO market from Anne of The Skinner Team. Including our monthly video series and information compiled by the Land Title Guarantee Company.

As Summit County and Colorado are under Public Health Orders to combat the Coronavirus, The Skinner Team will be doing weekly market stats updates to follow the trends to see if and when a shift may take place.

A Review of 3/28 – 4/4 and March 2020 Market Stats Info:

 



February 2020 Market Analysis 

Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate. If you choose to utilize this marketing information in any publications or websites, please make sure you are quoting Land Title as your source. You are welcome to utilize this link within your own websites.

  • Market Analysis by Area for February 2020: There were a total of 126 transactions and $108,221,070 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $876,008, average residential price was $891,138 and average residential PSF was $544.
  • YTD 2020 Market Analysis by Area ( 2 months): There were a total of 260 transactions, and $207,041,870 in monetary volume. The average transaction price for all 18 reported areas is $808,100, average residential price was $838,410 and average residential PPF was $528.
  • Market Snapshot for FULL Years 2019 vs 2018:  Average Indicators for $: Single Family -5%, Multi- Family +7% and Vacant Land -2%. Median Indicators for Single Family +2%, Multi- Family +4% and Vacant Land -3%.
  • Market Analysis % Change YTD Year 2020: Monetary volume ($108,221,070) in February 2020 was up 3% from February 2019. Transactions (126) were down 5% from February 2019.
  • Residential Cost Analysis:  Residential volume in February had 98 transactions with $87,331,500 gross volume. There were 30 properties that sold for $1M and above in February. There were 42 Single Family, 56 Multi-Family and 8 Vacant Land transactions.
  • Average Price History by Type- YTD Year 2020: Average price for residential Single Family: $1,338,033, Multi- Family: $555,966 and Vacant Land: $490,938.
  • Comparative Historical Cost Analysis Comparison YTD 2020-2019-2018: In 2020, there were 209 residential transactions and $175,227,700 gross $ volume with 58 properties selling for over $1M. In 2019, there were 211 transactions with $172,639,219 gross $ volume with 48 properties selling for over $1M. In 2018, there were 216 transactions with $155,326,263 gross $ volume with 35  properties selling for over $1M.
  • Top Lender Analysis February 2020There were 431 loans in February. 74 loans were related to sales, there were 163 REFI’s and 194 loans were timeshare related. 41% of the real estate closings were cash transactions.
  • Market Highlights:  Please see page 11 of the Market Analysis- Note the the higher priced sale in February 2020 in Breckenridge at $4,600,000. The top priced PSF was Beaver Run in Breckenridge at $973.
  • Foreclosures: There were 6 foreclosure actions ( 4 were Timeshares).
  • Purchaser Profile Abstract:  Upper end sales were up a bit with 34 in February compared to 32 in January. Our buyers for real estate transactions for February 2020: Front Range demographic at 49% of our market, 26% are “local” and 25% are out of state buyers with 0% International.
  • Land Title New Development Summary: This (page 18) shows all the new construction each month, there were 13 in February.

Historical Summit County Market Analysis
Click here for Archived Summit County Market Analysis